Graff To Unveil A Watch Paved With 60 Fancy Yellow Diamonds At Baselworld

For the upcoming Baselworld watch and jewelry trade fair, Graff will unveil an important collection of jeweled watches, each showcasing diamonds using what the company describes as “pioneering jewelry watchmaking skills.” The first watch in the collection was unveiled Tuesday with the entire piece paved with 60 fancy vivid yellow diamonds totaling more than 25 carats. The price of the watch was not released.

To add to the color theme, the diamonds are set on a yellow gold case, bracelet and dial. In order to meet this challenge of setting this many exceptional diamonds on a watch, Sam Sherry, Graff’s head of Technologies, devised a jointing system that Graff has developed over the past few years to create flexible bracelets while optimizing the natural beauty of the stones.

Graff’s London atelier worked in conjunction with Graff’s Swiss watchmaking team, Graff Luxury Watches, to create this synthesis of haute horology and diamond setting.

This is not the first time Graff has presented a statement bejeweled watch at Baselworld. In 2014, the first year the luxury brand exhibited at the fair, it was the “Hallucination,” a women’s watch covered in a kaleidoscope of 110 carats of rare fancy colored diamonds. Graff claimed at the time it was “estimated to be the most valuable watch ever created.”

The following year Graff unveiled “The Fascination,” a transformable watch covered in 152.96 carats of white diamonds that was valued at $40 million. The pear shaped watch dial on the center of the diamond covered bracelet is removable and can be replaced with a 38.13 carat D flawless, pear shaped diamond, cut and polished by Graff. When the center diamond isn’t in use on the bracelet it is placed on a shank of a ring. So a woman can wear a pure diamond bracelet, an opulent diamond covered watch with a matching ring, or wear either piece by itself.

In 2017, it was the “Princess Butterfly Secret Watch,” covered in diamonds and gemstones mounted with a an invisible setting. To view the time, the owner pushes on one of the center round diamonds and the butterfly wings slide apart to reveal the watch dial.

Source: forbes.com

Graff To Unveil A Watch Paved With 60 Fancy Yellow Diamonds At Baselworld

For the upcoming Baselworld watch and jewelry trade fair, Graff will unveil an important collection of jeweled watches, each showcasing diamonds using what the company describes as “pioneering jewelry watchmaking skills.” The first watch in the collection was unveiled Tuesday with the entire piece paved with 60 fancy vivid yellow diamonds totaling more than 25 carats. The price of the watch was not released.

To add to the color theme, the diamonds are set on a yellow gold case, bracelet and dial. In order to meet this challenge of setting this many exceptional diamonds on a watch, Sam Sherry, Graff’s head of Technologies, devised a jointing system that Graff has developed over the past few years to create flexible bracelets while optimizing the natural beauty of the stones.

Graff’s London atelier worked in conjunction with Graff’s Swiss watchmaking team, Graff Luxury Watches, to create this synthesis of haute horology and diamond setting.

This is not the first time Graff has presented a statement bejeweled watch at Baselworld. In 2014, the first year the luxury brand exhibited at the fair, it was the “Hallucination,” a women’s watch covered in a kaleidoscope of 110 carats of rare fancy colored diamonds. Graff claimed at the time it was “estimated to be the most valuable watch ever created.”

The following year Graff unveiled “The Fascination,” a transformable watch covered in 152.96 carats of white diamonds that was valued at $40 million. The pear shaped watch dial on the center of the diamond covered bracelet is removable and can be replaced with a 38.13 carat D flawless, pear shaped diamond, cut and polished by Graff. When the center diamond isn’t in use on the bracelet it is placed on a shank of a ring. So a woman can wear a pure diamond bracelet, an opulent diamond covered watch with a matching ring, or wear either piece by itself.

In 2017, it was the “Princess Butterfly Secret Watch,” covered in diamonds and gemstones mounted with a an invisible setting. To view the time, the owner pushes on one of the center round diamonds and the butterfly wings slide apart to reveal the watch dial.

Source: forbes.com

Gold miner Richard Duffy appointed new chief of Petra Diamonds

Petra Diamonds has appointed former gold miner Richard Duffy as chief executive as it grapples with a heavy debt load following a period of expansion.

Mr Duffy was previously chief financial officer and head of African operations at AngloGold Ashanti before setting up a company that develops renewable energy projects in Africa.

Mr Duffy “will be critical to drive Petra’s transition from a phase of intensive capital expenditure and expansion to a focus on steady-state, cash-generative operation,” Petra’s chairman, Adonis Pouroulis, said. The appointment comes as Petra faces lower diamond prices and $559m of net debt that it needs to pay off.

Diamond prices were about 4 per cent lower in the six months ending December due to “industry wide lower prices for lower quality” small stones, the company said on Monday. Average pricing for diamonds at the company’s flagship Cullinan mine in South Africa fell to $96 a carat, the lowest six-month level since 2010.

Petra said adjusted earnings before interest tax and other items, or ebitda, fell 6 per cent to $75.6m in the second half of last year. It reported a net loss of $57.9m, from a loss of $117.7m in the same period a year earlier.

Revenues rose by 8 per cent to $207.1m as diamonds sold increased by 15 per cent to 1.74m carats. The company said reduction of its debt is a priority.

It has $90.7m in cash at the bank and said net debt is expected to be “largely flat” during the first half of this year if diamond prices remain at the same levels.

Source: ft.com

Gold miner Richard Duffy appointed new chief of Petra Diamonds

Petra Diamonds has appointed former gold miner Richard Duffy as chief executive as it grapples with a heavy debt load following a period of expansion.

Mr Duffy was previously chief financial officer and head of African operations at AngloGold Ashanti before setting up a company that develops renewable energy projects in Africa.

Mr Duffy “will be critical to drive Petra’s transition from a phase of intensive capital expenditure and expansion to a focus on steady-state, cash-generative operation,” Petra’s chairman, Adonis Pouroulis, said. The appointment comes as Petra faces lower diamond prices and $559m of net debt that it needs to pay off.

Diamond prices were about 4 per cent lower in the six months ending December due to “industry wide lower prices for lower quality” small stones, the company said on Monday. Average pricing for diamonds at the company’s flagship Cullinan mine in South Africa fell to $96 a carat, the lowest six-month level since 2010.

Petra said adjusted earnings before interest tax and other items, or ebitda, fell 6 per cent to $75.6m in the second half of last year. It reported a net loss of $57.9m, from a loss of $117.7m in the same period a year earlier.

Revenues rose by 8 per cent to $207.1m as diamonds sold increased by 15 per cent to 1.74m carats. The company said reduction of its debt is a priority.

It has $90.7m in cash at the bank and said net debt is expected to be “largely flat” during the first half of this year if diamond prices remain at the same levels.

Source: ft.com

Botswana Diamonds (BOD) Stock Price Down 12.1%

Shares of Botswana Diamonds PLC fell 12.1% during mid-day trading on Friday .

The stock traded as low as GBX 0.74 ($0.01) and last traded at GBX 0.73 ($0.01). 2,614,274 shares traded hands during trading, an increase of 75% from the average session volume of 1,490,000 shares. The stock had previously closed at GBX 0.83 ($0.01).

Separately, Northland Securities reaffirmed a “speculative buy” rating on shares of Botswana Diamonds in a research report on Thursday, November 15th.
 
Botswana Diamonds Company Profile

Botswana Diamonds plc operates as a diamond exploration and project development company in Botswana and South Africa.

The company’s flagship property is the Thorny River project, a long narrow kimberlite dyke stretching over 7 kilometers located in the Limpopo Province.

Botswana Diamonds plc was founded in 2010 is based in Dublin, Ireland.

Source: DCLA

Botswana Diamonds (BOD) Stock Price Down 12.1%

Shares of Botswana Diamonds PLC fell 12.1% during mid-day trading on Friday .

The stock traded as low as GBX 0.74 ($0.01) and last traded at GBX 0.73 ($0.01). 2,614,274 shares traded hands during trading, an increase of 75% from the average session volume of 1,490,000 shares. The stock had previously closed at GBX 0.83 ($0.01).

Separately, Northland Securities reaffirmed a “speculative buy” rating on shares of Botswana Diamonds in a research report on Thursday, November 15th.
 
Botswana Diamonds Company Profile

Botswana Diamonds plc operates as a diamond exploration and project development company in Botswana and South Africa.

The company’s flagship property is the Thorny River project, a long narrow kimberlite dyke stretching over 7 kilometers located in the Limpopo Province.

Botswana Diamonds plc was founded in 2010 is based in Dublin, Ireland.

Source: DCLA

Gem Diamonds’ Latest Exceptional Recovery a 13-Carat Pink

Gem Diamonds recovered a high quality 13.33 carat, pink colour Type I diamond from the Letšeng mine in Lesotho on 7 February 2019.

The prices for diamonds of this color of diamond are typically exceptional.

In the first half of 2018, when Gem recovered 10 rough stones larger than 100 carats at its Letšeng mine, the highest price achieved was $62,433 per carat for a 2.26-carat pink diamond.

Source:DCLA